Avicanna Completes First Commercial Export of Aureus™ Branded THC Extracts to Austria and Welcomes Colombian Government’s Progressive New Regulation on Cannabis

CANNANNEW REPORT

This initial export to Austria marks Avicanna’s first commercial export of psychoactive THC Cannabis Extracts into the emerging European medicinal cannabis market. The new decree by the Colombian government is designed to progress commercial initiatives related to the cannabis sector and fortify Colombia’s competitive advantages at a global level Several business units of Avicanna’s vertically integrated infrastructure are positioned to benefit from the new regulatory framework set out in Decree 811 of 2021 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/ TORONTO, July 28, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that, through its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), it has completed its first commercial export of high concentration THC full spectrum psychoactive cannabis extracts to Austria. Additionally, the company welcomes the new Colombian regulation aimed at progressing the cannabis industry and its commercialization processes which positively impacts several of Avicanna’s business units and infrastructure in Colombia. Initial shipment of THC extracts into the European Union This shipment marks the 9th country to which SMGH has exported the Aureus™ branded products, which include a range of CBD, THC and CBG extracts and feminised seeds. Avicanna’s SVP, European Operations, Jens Kramer, commented: “We are very happy to further progress our long-term strategy to expand our API business into the emerging European market. With Avicanna’s dedication to quality standards and pharmaceutical positioning we are poised to be a significant long-term player in the European medical market that is predominantly focused on medical utility of cannabinoids and where meeting EU pharmacopeia standards are essential.” New progressive regulation on cannabis in Colombia Decree number 811, which…

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Source : Avicanna Completes First Commercial Export of Aureus™ Branded THC Extracts to Austria and Welcomes Colombian Government’s Progressive New Regulation on Cannabis

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